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Strategies & Market Trends : Candlestick Charting--The unknown indicator

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To: Esteban who wrote (870)12/6/1997 12:40:00 PM
From: MonsieurGonzo  Read Replies (1) of 1589
 
Esteban; RE:" Big Oil..."

There are two Big Oil indices, Esteban: AMEX:XOI and CBOE:OIX

...the pro action appears to be in the AMEX:XOI index options. Friday's XOI close was 469.53, and there was massive volume in the DEC 475 CALL, XVILO. I was reviewing the OEX-100 underlying list, saw a Bullish Engulfing candlestick on CHV,D and what may become a Doji Hammer on CHV,W and so began to look at the other Big Oil stocks, and these two Big Oil indices.

S'il-vous plait, regardez AN CHV ORX RD UCL charts. They all appear to have Hammers on weekly charts and bullish engulfing patterns on their daily charts.

The AMEX:XOI Big Oil index has the following components:

AHC
AN
ARC
BP
CHV
DD
XON
KMG
MOB
OXY
ORX
P
RD
SUN
TX
UCL


The CBOE:OIX Big Oil index has the following components:

AHC
AN
ARC
BP
CHV
XON
KMG
MOB
OXY
P
RD
TX
UCL
TOT
MRO


...The Big Oil stocks and the XOI index look very strong, insofar as candlesticks are concerned. Comments appreciated.

-Steve
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